GEORGE TOWN, January 8— Penang-based property developer, M Summit Group is set to launch next month two new mixed development projects, with a combined gross development value (GDV) of RM85 million.
Managing Director Datuk Albert Moh said the group’s first project outside Penang, Lakeside Pavilion, will be launched in Kedah with a GDV of about RM20 million.
He said earthworks on the 1.2-hectare land located in Jitra has started with piling expected to begin after the Chinese New Year break and completion slated for 2018.
“This is the first time the group has ventured outside Penang. It is also the best platform for us to explore new opportunities, especially in the northern region,” he told Bernama.
He added that the project which includes six units of bungalows and 14 units of semi-detached houses at Taman Tunku Sarina, will be priced from RM600,000 to RM1.8 million.
Moh said the other new project to be launched after Chinese New Year is the Scots Pavilion in Penang, a retirement cum wellness home, equipped with facilities for physically challenged individuals.
He said among the special features of the project located at Scotland road, includes a 100% wheelchair friendly bathroom, entrances wide enough for wheelchairs, a hydrotherapy pool, panic button in every unit, a mechanical car park and physiotherapy centre.
“It is a 100% wheelchair friendly, right from the mechanical car park to the ground floor lift lobby.
“I believe this type of residential home is suitable for families with the elderly who are physically challenge. We are confident of a good response once launched,” he added.
He explained that the project will have 89 units on a 22-storey tower and a cafeteria and convenience shop on Level 1, while the rooftop has penthouse units.
Moh said the launch price will be fixed at RM700 to RM750 per sq feet with a minimum two parking lots for each unit.
“We are aiming for the project to be completed by early 2019,” he added.
M Summit Group was established in 2000 and over the years, has grown to become a reputable property developer in Penang.